| The Markets US GDP grew by 1.7% in the quarter ended 30th June, according to figures from the Commerce Department, beating previous expectations of 1.5%. However, this was still a slowdown on first quarter growth of 2% and has led to concerns that the country's recovery may be faltering ahead of possible spending cuts and tax increases. Back home, the Office for National Statistics reported that the percentage of households with no working adults fell to 17.9% between April and June, from 18.7% last year. Meanwhile, a new debate over Heathrow has begun after the government rejected plans for a third runway at the UK's busiest airport. While the leaders of all the major political parties are opposed to the idea, the All Party Parliamentary Group on Aviation has claimed that the decision is hampering the country's economic recovery. At the London close the Dow Jones was down by 0.51 points at 13,102.48 and the Nasdaq was down by 3.62 points at 2,779.07. In London the FTSE 100 fell by 32.18 points to 5,743.53; the FTSE 250 finished 12.45 points ahead at 11,387.69; the FTSE All-Share lost 13.80 points to 2,985.95; and the FTSE AIM Index declined by 0.26 points to 677.31. 
Broker Notes Northland Capital reiterated its "buy" rating for Serica Energy (SQZ) with a 56.5p target price. The broker noted that the hydrocarbon explorer has farmed out its interest in the Sidi Moussa and Foum Draa licences in Morocco to Genel Energy (GENL) and Cairn Energy (CNE), and will receive a combined 1.2 million dollars (0.76 million pounds) in back costs. Elsewhere, Northland said that the firm's Spaniards exploration well is on track for spudding in October and added that there is scope for further exploration in the Irish Atlantic Margin in 2013. Serica Energy shares dropped by 1.375p to 29.25p.  Panmure Gordon maintained its "buy" recommendation for Range Resources (RRL) but with a reduced target price of 10p, from 12p. Despite the oil and gas explorer suffering disappointment from the Shabeel North well in Puntland, the broker noted that the firm has considerable room for expansion in Trinidad. Panmure forecasts production in the region to double by the end of the year to 2,000 barrels per day. Additionally, the broker believes the firm could reach 4,000 barrels per day by mid 2013 as it proceeds with its drilling campaign. Range Resources shares leapt by 0.81p to 5.9p. Singer Capital upgraded its stance on Advanced Medical Solutions (AMS) from "fair value" to "buy" with an increased target price of 82p, from 80p. The broker said that the shares have been impacted by a number of short-term factors such as the weakness of the Euro and delays in orders for its LiquiBand product. However, Singer believes that the successful integration of Resorba would offer significant growth potential for the wound care technology developer, but noted that effects will not be seen until next year. On the broker's forecasts the shares trade on a prospective earnings multiple of 13.3 times for 2012, falling to 11.5 times in 2013. The shares inched up by 0.125p to 69p. Blue-Chips Serco Group (SRP) said that strong growth in Australasia and the Middle East helped compensate for difficult trading in the US, with pre-tax profits for the six months ended 30th June rising by 7.8% year-on-year to 120.5 million pounds. The firm noted that the UK market was showing signs of recovery and added that it successfully launched its Global Services BPO division. During the period, the outsourcing group secured 4.2 billion dollars worth of new contracts, bringing its order book to 19.4 billion pounds as at 30th June, up from 17.9 billion pounds at the end of the 2011 calendar year. Serco shares edged up by 3.5p to 566p. 
Copper miner Antofagasta (ANTO) increased first half production by 16.5% year-on-year to 336,000 tonnes and also increased gold production by 92.5% to 136,100 ounces. The increase in volumes helped to offset declining copper prices, which fell by 11.8% over the period to 373 cents (236p) per pound. The group also raised its interim dividend by 6.3% to 8.5 cents (5.4p) and reiterated its full year production target of 700,000 tonnes of copper and 280,000 ounces of gold. The shares slipped by 9p to 1,123p. SSE (SSE) reported that power generation at its 100 megawatt Glendoe hydro electric station has recommenced, having been interrupted by a rock fall in August 2009 that blocked the water supply. The plant has so far produced 3 gigawatt hours of electricity and the power company said that in a year of average rainfall it would be capable of generating 180GWh of electricity. SSE shares advanced by 15p to 1,372p. Mid-Caps Dialight (DIA), the LED provider, has established Dialight Asia in joint-venture with Lumina Holdings Systems. The new division will be supplied from its facilities in Penang, Malaysia, and will target the oil and gas sector in the region. Separately, the group said that it has secured an contract worth 1 million dollars (0.6 million pounds) to deliver LED lighting to an undisclosed mining company. The order covers the supply of almost 2,000 lighting fixtures to an Indonesian copper and gold mine. Dialight shares rose by 43p to 1,140p. 
Shares in Ruspetro (RPO) fell by 16p to 125.5p after the firm reported a pre-tax loss of 26.4 million dollars (16.7 million pounds) for the six months ended 30th June, down from a profit of 0.6 million dollars (0.4 million pounds) in the first half of 2011. The Siberia focused hydrocarbons explorer increased production by 166% to 720,026 barrels and added that it plans to continue ramping up throughout 2012, with an exit production rate target of 10,400 barrels of oil per day. Sticking with the oil and gas theme, Ophir Energy (OPHR) also swung to a pre-tax loss of 24.4 million dollars (15.4 million pounds) in its first half ended 30th June, from a profit before tax of 6.1 million dollars (3.9 million pounds) for 2011's comparable period when it benefited from a 13.8 million dollar (8.7 million pounds) farm-out. The firm noted that it strengthened its balance sheet through an equity placing which raised 242 million dollars (153 million pounds), bringing its cash balance to 454 million dollars (287.1 million pounds) as at 30th June. The shares gained 19p to 550p. Small Caps, AIM and PLUS Shares in Vatukoula Gold Mines (VGM) soared by 5.25p to 37.5p after it announced that Chinese company Shengen Xintai International Mine Industry Group has committed to investing 10.3 million pounds at a price of 51.65p per share, a premium of 60% to the closing price on 28th August. The firm will use the funds to ramp up production at its mine in Fiji - which has 680,000 ounces of gold reserves and 4.3 million ounces of gold resources - to profitable levels. As part of the deal, Xintai will have the right to appoint two directors to Vatukoula's board. PLUS-quoted Union MedTech (UMTP) reported a loss of 163,242 pounds for the six months ended 31st May 2012, 50% more than it lost in the entire year ended 30th November 2011. This was largely attributable to the appointment of new board members, which brought administrative costs to 114,412 pounds. During the period the investment vehicle raised 450,000 pounds through an equity placing and disposed of its 6.5% holding in Wilton Petroleum for 100,000 dollars (63,231 pounds) in cash. The shares were unchanged at 1.75p. Tanzanite miner Richland Resources (RLD) reported second quarter production of 671,819 carats, up 4.7% year-on-year, with an improved grade of 87 carats per tonne, compared to 53 carats per tonne in 2011's comparable period. The firm achieved sales of 6.5 million dollars (4.1 million pounds) during the period, its best result since the second quarter of 2008. However, investors were alarmed to hear of "a significant increase in illegal underground mining on its licence from neighboring blocks" which resulted in damage to the infrastructure of some of its shafts, as well as theft of equipment and resources. Shares in Richland slumped by 1.125p to 6.125p. 
MBL Group* (MUBL) managed to reduce pre-tax losses for the year ended 31st March to 2.1 million pounds, from 4.2 million pounds in 2011, despite losing its contract with WM Morrisons Supermarkets (MRW) in April 2011. The home entertainment products distributor reduced the number of its employees by 75% and made a number of disposals, including the sale of Global Media Vault and MBL Guernsey to J Sainsbury (SBRY). The group finished the year with cash reserves of 4 million pounds and no debt. The shares climbed by 0.375p to 4.125p. Public transport CCTV supplier 21st Century Technology (C21) reported a 10.3% fall in revenues for the six months ended 30th June, to 7 million pounds, with pre-tax profits declining by 7.1% to 0.68 million pounds year-on-year. 71.4% of the group's sales, 5 million pounds, came from its three largest UK customers, compared to just 2.8 million pounds in 2011's comparable period. The company also noted that its chief executive of the last seven years, Nick Grimond, has resigned and will be replaced by executive director Wilson Jennings. Shares in 21st Century Technology plunged by 1.875p to 12.125p. Angel Biotechnology Holdings (ABH) has signed a framework agreement with arGentis Pharmaceuticals for the development and manufacture of their systemic sclerosis treatment ARG201. As part of the deal, Angel will provide arGentis with materials for use in clinical trials of the product. The group's chief executive Dr Stewart White commented :"This demonstrates not only the commercial demand for the collagen products that Angel can offer, but the value Angel can offer customers towards accelerating clinical supply". The shares gained 0.005p to 0.16p. * MBL Group is a corporate client of Rivington Street Holdings, the ultimate owner of UK-Analyst. | 
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